Today’s Research Reports on Trending Tickers: Immunomedics and Rite Aid
U.S. markets closed up on Wednesday, as investors appear to shrug off fears of increasing interest rate and bond yields. The Dow Jones Industrial Average gained 0.25 percent to close at 24,768.93, while the S&P 500 Index increased 0.41 percent to close at 2,722.46. The Nasdaq Composite Index climbed 0.63 percent to close at 7,398.30.
“For the 10-year, 3% isn’t a magical number that will pull investors out of stocks. With inflation and interest rates being where they are, we think stock valuations are about right. Equities certainly aren’t cheap, but valuations aren’t a big concern right now,” said Anthony Saglimbene, global market strategist at Ameriprise.
RDI Initiates Coverage on:
Rite Aid Corporation
Immunomedics’ stock jumped 3.89% Wednesday, to close the day at $19.51. The stock recorded a trading volume of 2,791,835 shares, which was above its three months average volume of 1,894,719 shares. In the last year, Immunomedics’ shares have traded in a range of 7.03 – 19.90. The share price has gained 177.52% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $16.80 is above its 200-day moving average of $15.07. Shares of Immunomedics have gained roughly 19.69 percent in the past month and are up 20.73 percent year-to-date.
Access RDI’s Immunomedics, Inc. Research Report at:
On Wednesday, shares of Rite Aid recorded a trading volume of 14,473,437 shares, which was below the three months average volume of 20,619,162 shares. The stock ended the day 6.59% higher at $1.78. The share price has fallen 57.72% from its 52 week high with a 52 week trading range of 1.38 – 4.21. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $1.64 is below its 200-day moving average of $1.83. Shares of the company are trading at a Price to Earnings ratio of 12.03. Shares of Rite Aid have gained roughly 4.09 percent in the past month and are down 9.64 percent year-to-date.
Access RDI’s Rite Aid Corporation Research Report at:
Our Actionable Research on Immunomedics, Inc. (NYSE:IMMU) and Rite Aid Corporation (NYSE:RAD) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.